Monetary policy influences inflation, employment, and economic activity. A stable but dynamic monetary system is vital for supporting economic growth, individual liberty, and a prosperous society. Therefore, we examine the causes and consequences of monetary policy (including inflation), identify ideal and practical steps towards a better monetary policy regime, and look at monetary alternatives and financial regulation.
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“The only way that the Banco Central do Brasil could completely end PIX-based lightning kidnapping would be to slow the entire system down. That would mean cutting regular Brazilians off completely from the benefits of real-time payments.” ~ J.P. Koning
“If Treasury can just slap a figure on a hunk of metal and demand that the Federal Reserve credit its account with that figure, it could force the creation of as much money as the politicians controlling it want.” ~ Robert E. Wright
“Rather than it being evil, it should deserve respect since it lays claim to the production of goods and services that do not yet exist. Even more boldly, when earned non-fraudulently, money represents a debt society owes you.” ~ David Gillette
“Problems with bitcoin’s design––including its suboptimal supply constraint and limited transactions capacity––cast doubt on the claim that bitcoin is superior to the monies widely used at present.” ~ William J. Luther
“There is clear evidence that bank deregulation can improve financial stability while also shrinking inequality. By lowering the costs of doing business, strong but simple regulations improve job opportunities for low-skilled and minority workers.” ~ Thomas L. Hogan & Amelia Janaskie
“Bitcoin’s supply mechanism fails to provide a long-run nominal anchor or promote monetary stability. A better money would employ a supply mechanism that offsets changes in the demand to hold it.” ~ William J. Luther
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